1.The function of demand for apples : Qd=8-P The function of the apples’ supply Qs=-7+2xP Determine the buyer surplus?

Question

The function of demand for apples : Qd=8-P The function of the apples’ supply Qs=-7+2xP answers

Answer 1

The answer is 42.  

Answer 2

1.Suppose that demand for bagels in the local store is given by equation Qd=300-100P.

In this equation, P denotes the price of one bagel in dollars.

a) Identify Qd and Eqp for each of the following P :

P1=0.10

P2=0.45

P3=0.5

P4=0.55

P5=2.5

Source(s): 1.Suppose that demand for bagels in the local store is given by equation Qd=300-100P. In this equation, P denotes the price of one bagel in dollars. a) Identify Qd and Eqp for each of the followinf P : P1=0.10 P2=0.45 P3=0.5 P4=0.55 P5=2.5